Fidelity Investments president Rodger Lawson announced he would resign on March 31,
the
Boston Globe
reported.
The company did not announce a successor. Instead chairman and chief executive Edward C. “Ned” Johnson III and the firm’s executive committee will step in…. But the move raises the prospect that Abigail Johnson could finally succeed her father in running the family business.
The
Globe
article noted that Lawson
is the latest in a line of executives who never ascended to the top spot at the company, founded by the elder Johnson’s father, Edward Crosby Johnson II, in 1946.
Ned Johnson, 79, is in good health and “remains in control,” the report noted. Abigail Johnson “is already vice chairman and heads the company’s largest unit, which manages retirement plans and runs its retail investment business.”
Fidelity told the
Globe
that it has a succession plan but would not disclose it publicly. (Source:
Boston Globe,
Jan. 21, 2010.)
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